SPOT freight rates for container shipping from Asia to North Europe fell 7.8 per cent to US$1,341 per TEU on Friday, according to the Shanghai Containerised Freight Index.

The drop came one week after a jump of 20.9 per cent as a result of freight rate increases announced by shipping companies. Container freight rates have so far increased in 10 weeks this year, but fallen in 22 weeks.

Average rates for 2014 are $1,280 per TEU compared with $1,090 last year. The comprehensive index fell two per cent to $1,172 per TEU, noted Reuters.